Title
Department of Transportation recommending the Board approve and authorize the Chair to sign a Fiscal Year 2022-23 budget transfer increasing appropriations by $300,000 $500,000 for the transfer of funds from the Senate Bill No. 1 special revenue fund to the Maintenance and Operations Division. (4/5 vote required)
FUNDING: Road Repair and Accountability Act of 2017. (SB1 - RMRA)
Body
DISCUSSION / BACKGROUND
Department of Transportation, Maintenance and Operations Division is requesting a budget transfer to increase the operating transfer out from the Senate Bill No. 1 (SB-1) special revenue fund to allow for the full reimbursement to the Maintenance and Operations Division for SB-1 completed project costs. Each year, a list of projects that SB-1 funds may be used for is authorized by the Board and the costs for the projects are part of the adopted budget. This year, construction costs have increased and additional funding is required to fully cover the costs of the approved and completed projects. The budget transfer will increase the operating transfer out and decrease the contingency in the SB-1 special revenue fund by $300,00 $500,000 and increase the operating transfer in and the road maintenance and construction budgets in the Maintenance and Operations Division by the same amount. Due to an updated analysis of SB-1 completed project costs after the Board agenda had posted, the budget transfer amount was increased from $300,000 to $500,000.
ALTERNATIVES
The Board could choose not to approve the transfer, and the Road Fund would not be fully reimbursed for the costs of the projects.
PRIOR BOARD ACTION
4/19/22 Legistar 22-0451, #28 DOT FY 22/23 SB1 Projects Resolution
OTHER DEPARTMENT / AGENCY INVOLVEMENT
CAO - Community Development Finance and Administration
CAO RECOMMENDATION / COMMENTS
Approve budget transfer.
FINANCIAL IMPACT
This item has no impact to Net County Cost. The item will allow funds from the SB-1 special revenue fund to be transfe...
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